A former client of a Swiss bank – writing confidentially for eprivateclient – explains the latest developments in the ongoing Swiss Retrocession claims of UK individuals and families

It has been several months now since the 13 May 2020 (4A-355/2019) Federal Supreme Court of Switzerland judgement on legally valid waivers for retrocessions.

After extensive work with our own lawyers and test cases with certain Swiss banks, it is clear to us that many waivers are invalid and that claims can be made even after the banks sent out waivers to clients. This increases the amount of claims for clients...